Arun Jaitley says GST passage historic

Dubbing passage of the GST Constitution Amendment Bill as historic, Finance Minister Arun Jaitley today said manufacturing taxes and VAT will come down with the new national sales tax but the same for services tax will be decided by states and centre.

The Goods and Services Tax (GST), which will subsume over a dozen central and state levies including excise duty, service tax and VAT, is ?perhaps the most important? tax reform, he said soon after Rajya Sabha overwhelmingly voted for the legislation. (PTI Photo)